Windsor Advisory Group LLC Has $4.23 Million Position in Paychex, Inc. (NASDAQ:PAYX)

Windsor Advisory Group LLC grew its holdings in Paychex, Inc. (NASDAQ:PAYX) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,550 shares of the business services provider’s stock after purchasing an additional 2,072 shares during the quarter. Paychex makes up 12.6% of Windsor Advisory Group LLC’s portfolio, making the stock its biggest position. Windsor Advisory Group LLC’s holdings in Paychex were worth $4,234,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cornell Pochily Investment Advisors Inc. grew its position in shares of Paychex by 0.6% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 15,425 shares of the business services provider’s stock worth $1,779,000 after buying an additional 86 shares during the last quarter. Griffin Asset Management Inc. grew its position in shares of Paychex by 0.5% in the 4th quarter. Griffin Asset Management Inc. now owns 18,225 shares of the business services provider’s stock worth $2,171,000 after buying an additional 88 shares during the last quarter. Roman Butler Fullerton & Co. grew its position in shares of Paychex by 2.3% in the 3rd quarter. Roman Butler Fullerton & Co. now owns 4,003 shares of the business services provider’s stock worth $472,000 after buying an additional 91 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Paychex by 6.3% in the 1st quarter. Penserra Capital Management LLC now owns 1,535 shares of the business services provider’s stock worth $209,000 after buying an additional 91 shares during the last quarter. Finally, SVB Wealth LLC grew its position in Paychex by 1.1% during the 1st quarter. SVB Wealth LLC now owns 8,849 shares of the business services provider’s stock worth $1,208,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 83.47% of the company’s stock.

Paychex Stock Performance

PAYX opened at $121.62 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a fifty day moving average price of $122.02 and a 200 day moving average price of $119.55. Paychex, Inc. has a 1 year low of $104.09 and a 1 year high of $129.70. The stock has a market cap of $43.76 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.32 and a beta of 0.93.

Paychex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, February 12th. Paychex’s dividend payout ratio is currently 79.11%.

Paychex declared that its board has authorized a share buyback program on Friday, January 19th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PAYX shares. JPMorgan Chase & Co. dropped their target price on shares of Paychex from $134.00 to $126.00 and set an “underweight” rating on the stock in a research report on Friday, December 22nd. Evercore ISI reissued an “in-line” rating and set a $118.00 target price on shares of Paychex in a research report on Tuesday, March 26th. Barclays dropped their target price on shares of Paychex from $126.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Friday, December 22nd. TD Cowen reissued a “market perform” rating and set a $123.00 target price (down previously from $132.00) on shares of Paychex in a research report on Friday, December 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 target price on shares of Paychex in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.77.

Insider Activity at Paychex

In related news, VP Mark Anthony Bottini sold 15,481 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $120.53, for a total value of $1,865,924.93. Following the completion of the transaction, the vice president now directly owns 82,690 shares in the company, valued at approximately $9,966,625.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.50% of the company’s stock.

Paychex Company Profile

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.